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Updated over 7 years ago,

User Stats

34
Posts
12
Votes
Luis Fernandez
  • Saint Louis, MO
12
Votes |
34
Posts

Tenant's Security Deposits - Credit Wasn't Applied

Luis Fernandez
  • Saint Louis, MO
Posted

I purchased in four-plex and was given a contract with an inspection rider and then the real estate agent changed broker and had me sign a mutual release and then a new contract. I skimmed through the new contract and it looked just like the last one. After we closed, an existing tenant asked about her security deposit. The former owner had not refunded the security deposit to the tenants nor did I get credit for it on HUD statement. I reviewed the latest contract and noticed that Rider Inspection was missing. I asked the real estate agent why she had placed it on the original contract and not on the latest one? Her response was that because I already had inspected the property during the first contract an so she decided, without telling me, to omit the Rider Inspection from the latest contract. Is she or her broker liable for not having including the Rider Inspection with the latest contract which wasn't in the best interest on their client(me)? The tenants (there's more than one) will eventually ask for her security deposit when they move out and I have not been given credit for this.

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